Help debt repayment

Back to English Comments Industries - October 3, 2018 | 12:02 pm GMT+7 Farmers’ hopes once climbed high on pepper vines in the Central Highlands; today, they are entangled in debt and misery.As the monsoon season ended in the Central Highlands, Lac packed up his belongings and embarked on a southward journey. Leaving behind his grass-covered fields, a tractor that has not been touched for months and a couple of goats that no one wanted to buy, he would work as a security guard for a restaurant in Saigon.Lac has to undertake this journey to save his house from being seized by the bank. His family has been unable to pay their bank loan's interest for months as the pepper vines that they’d invested all their money in now stand shriveled. Vui, on the other hand, has remained at home in Chu Puh District. She shares Lac’s fate. The pepper vines that had borne the hopes and expectations of her family have now buried her in debt. Unlike Lac, she has stayed behind to … [Read more...] about Tragedy of errors: Central Highlands farmers peppered with a debt crisis – VnExpress International

As the monsoon season ended in the Central Highlands, Lac packed up his belongings and embarked on a southward journey. Leaving behind his grass-covered fields, a tractor that has not been touched for months and a couple of goats that no one wanted to buy, he would work as a security guard for a restaurant in Saigon.Lac has to undertake this journey to save his house from being seized by the bank. His family has been unable to pay their bank loan's interest for months as the pepper vines that they’d invested all their money in now stand shriveled. Vui, on the other hand, has remained at home in Chu Puh District. She shares Lac’s fate. The pepper vines that had borne the hopes and expectations of her family have now buried her in debt. Unlike Lac, she has stayed behind to wait for the fruits of her last gamble: over 100 pepper vines in her farm have survived the monsoon season, and her family has poured all their remaining money and effort into them.However, the end of the … [Read more...] about Tragedy of errors: Central Highlands farmers peppered with a debt crisis

VNR to keep divesting its subsidiaries Vietnam Railway Corporation (VNR) wants to continue the divestment of its subsidiaries, aiming to improve competitiveness and attract investors to enhance efficiency after three years on a downward spiral. A report on the results of the first six months of 2018 from VNR shows that all of its business indicators are on the rise, with revenue amounting to some VND4,000 billion, up 17.8% year-on-year, and with profit reaching VND106 billion. According to the report, the growth in revenue results from a series of renovation solutions for railway services, including replacing new cars, flexibly increasing and decreasing ticket prices depending on the market demand and linking to the tourism sector to attract passengers in groups. As railway transport models are still facing challenges, VNR has been forced to continue rearranging and restructuring its mechanisms and activities to sustain its operations and develop further. Besides this, the corporation … [Read more...] about BUSINESS NEWS IN BRIEF 5/8

Unregulated P2P lending involves multiple risks: reportThe Saigon Times Daily A bank teller holds stacks of Vietnamese banknotes. Vietnam does not have a legal corridor for P2P lending, and thus both borrowers and lenders are not protected by law – PHOTO: THANH HOA HCMC - Peer-to-peer (P2P) lending, which is new to Vietnam, helps strengthen comprehensive financing, but Vietnam does not have a legal corridor for this debt financing method, and both borrowers and lenders are not protected by law. Several platforms in China’s P2P lending industry have collapsed, serving as a warning to Vietnam, according to a report published in Lao Dong newspaper. The local newspaper reported a case in Hanoi, in which a borrower sought a loan via a lending application instead of through a bank. Using a vehicle registration certificate, the borrower received an instant loan of VND15 million, which was half the value of her Lead scooter. After 30 days, the borrower needed to pay … [Read more...] about Unregulated P2P lending involves multiple risks: report

Storm resistant house build for an impoverished family in Phu Yen province (Photo: VNA) Hanoi (VNA) – The Vietnam Red Cross Society (VNRC)’s “Red-Cross house” model has helped thousands of impoverished residents in disaster-affected localities build or repair their houses which were destroyed by floods and storms. The VNRC at all levels have built more than 24,000 houses for those who suffer heavy loss from natural disasters at the total cost of nearly 700 trillion VND (30.8 billion USD), which was sponsored by international organisations. Over 2,000 houses of which are disaster-resistant houses. The houses have been built to suit the lifestyle of different ethnic groups and localities across the nation. For example: stilt houses are constructed for ethnic people in the northern mountainous localities while bungalows are popular among Kinh people or those in the south western region. They have helped local residents stabilise their lives soon after the … [Read more...] about “Red-Cross house” model helps disaster-affected locals repair dwelling